What is a 457(b) Arrangement?
The Deferred Compensation 457(b) Plan is a Voluntary Nonqualified Deferred Compensation Plan, which means that participants must elect to defer money into the plan and those contributions are tax deferred until distribution. Although deferrals are 100% vested, they are subject to the claims of TSRI creditors. A Nonqualified plan means it is available only to a select group of management or highly compensated employees.
